Nifty Stagnates at Open—Traders Hold Breath for Trump-Putin Talks as Six-Week Bleed Continues

Another morning of sideways action for India's benchmark index—but don't mistake complacency for stability.

Markets are coiled springs waiting for geopolitical sparks. The Trump-Putin tête-à-tête could either break Nifty's losing streak... or pour gasoline on the fire.

Six straight weeks of red. That's not a correction—it's a slow-motion car crash. And yet, the usual suspects are still peddling 'buy-the-dip' narratives like street vendors selling monsoon-drenched newspapers.

Here's the brutal truth: Flat opens don't equal bullish reversals. They're just the market catching its breath before the next leg down. Watch the geopolitical wires—this market's got the volatility appetite of a coked-up hedge fund manager.

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The cement sector led Monday’s gainers with Grasim Industries rising 2.02 per cent to ₹2,746.10. Banking heavyweight State Bank of India gained 2.01 per cent to ₹820.50, while fashion retailer Trent advanced 1.33 per cent to ₹5,387.50. Tata Motors climbed 0.94 per cent to ₹639.65, and Adani Enterprises gained 0.91 per cent to ₹2,198.00.

On the downside, Titan Company declined 1.42 per cent to ₹3,411.20, leading the losers. Hero MotoCorp fell 0.93 per cent to ₹4,557.00, while ICICI Bank dropped 0.85 per cent to ₹1,423.70. Bajaj Finserv and Apollo Hospitals declined 0.71 per cent and 0.69 per cent to ₹1,905.60 and ₹7,035.50 respectively.

Foreign Institutional Investors turned net buyers after 14 sessions of selling, purchasing equities worth ₹1,933 crore on Friday. “After remaining net sellers for the last 14 sessions, the Foreign institutional investors turned net buyers on August 8 as they bought equities worth nearly ₹1932 crore,” said Hardik Matalia, Derivative Analyst at Choice Equity Broking Private Limited. Domestic Institutional Investors also remained supportive, buying ₹7,723 crore worth of equities on the same day.

Technical analysts remain cautious about the index’s trajectory. “Nifty’s 200-DMA at 24,043 remains a crucial support,” Tapse noted, while identifying immediate support at 24,300 followed by 24,200 and 24,000. On the upside, resistance is expected at 24,500, followed by 24,600 and 24,700.

VLA Ambala, Co-Founder of Stock Market Today, emphasized the rarity of the current correction. “The benchmark index Nifty closed in the red for six consecutive weeks, which is a rare event that has occurred only four times since its inception in 1990. This pattern has often resulted in extended periods of consolidation, particularly when accompanied by challenging macroeconomic conditions.”

The commodities market reflected geopolitical Optimism as crude oil prices declined on hopes of the Russia-Ukraine peace talks. October Brent oil futures traded at $66.29, down 0.45 per cent, while WTI crude dropped 0.56 per cent to $63.52. On the Multi Commodity Exchange, August crude oil futures fell 0.77 per cent to ₹5,567.

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Gold prices also retreated from recent highs as safe-haven demand weakened. “Gold and silver posted weekly gains last week, supported by U.S. trade tariff uncertainty and a weaker dollar index. However, prices slipped below $3,380 per ounce on Monday morning,” said Rahul Kalantri, VP Commodities at Mehta Equities Ltd.

Market participants are now focusing on key data releases this week, including US and India inflation data, US retail sales figures, and quarterly results from major corporates including Bata India, Hindalco Industries, and Maruti Suzuki India.

Analysts recommend caution given the current market dynamics. “In these market conditions, adopting a sell-on-rise approach remains the most prudent strategy for participants looking to manage risk effectively,” Ambala advised. She also suggested focusing on defensive sectors like FMCG and utilities, high-dividend PSU stocks, and select midcaps that have shown resilience during the recent correction.

The India VIX, a measure of market volatility, ROSE 2.95 per cent on Friday to 12.0325, indicating heightened nervousness among traders. With the Nifty down 7.6 per cent from its September 2024 record high, investors are closely watching for signs of stabilization or further weakness in the coming sessions.

Published on August 11, 2025